Pinterest (NYSE:PINS) Price Target Raised to $26.00

by · The Markets Daily

Pinterest (NYSE:PINS – Free Report) had its price objective boosted by Robert W. Baird from $24.00 to $26.00 in a research report report published on Wednesday, MarketBeat reports. They currently have a neutral rating on the stock.

Several other equities analysts have also recently weighed in on the stock. Wedbush began coverage on shares of Pinterest in a research note on Thursday, July 16th. They set a “neutral” rating and a $24.00 target price for the company. TD Cowen reissued a “buy” rating on shares of Pinterest in a research note on Monday, June 22nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $24.00 price objective on shares of Pinterest in a report on Tuesday, May 5th. Wall Street Zen lowered shares of Pinterest from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Morgan Stanley upped their price target on shares of Pinterest from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Seventeen analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $27.90.

Get Our Latest Stock Report on PINS

Pinterest Price Performance

NYSE PINS opened at $23.73 on Wednesday. The stock has a market capitalization of $13.29 billion, a price-to-earnings ratio of 69.80, a PEG ratio of 1.25 and a beta of 0.90. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.81 and a quick ratio of 4.23. Pinterest has a 1-year low of $13.84 and a 1-year high of $38.57. The business’s fifty day moving average price is $22.12 and its 200-day moving average price is $20.48.

Pinterest (NYSE:PINS – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.07. Pinterest had a net margin of 5.46% and a return on equity of 7.49%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the company posted $0.33 EPS. The company’s revenue was up 18.2% compared to the same quarter last year. On average, equities analysts predict that Pinterest will post 0.63 earnings per share for the current year.

Insider Activity at Pinterest

In other news, Director Benjamin Silbermann sold 46,875 shares of the stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $22.54, for a total value of $1,056,562.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wanjiku Juanita Walcott sold 27,337 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $20.46, for a total transaction of $559,315.02. Following the sale, the insider owned 724,673 shares of the company’s stock, valued at $14,826,809.58. This trade represents a 3.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 429,816 shares of company stock valued at $9,280,201 over the last quarter. 8.09% of the stock is owned by insiders.

Hedge Funds Weigh In On Pinterest

A number of large investors have recently modified their holdings of the business. Yousif Capital Management LLC lifted its holdings in shares of Pinterest by 2,298.3% during the 4th quarter. Yousif Capital Management LLC now owns 185,170 shares of the company’s stock worth $4,701,000 after acquiring an additional 177,449 shares during the period. Forsta AP Fonden increased its stake in Pinterest by 61.2% during the fourth quarter. Forsta AP Fonden now owns 397,400 shares of the company’s stock worth $10,289,000 after acquiring an additional 150,900 shares during the last quarter. Amundi increased its stake in Pinterest by 38.3% during the first quarter. Amundi now owns 3,200,829 shares of the company’s stock worth $58,703,000 after acquiring an additional 885,927 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of Pinterest in the fourth quarter worth $12,812,000. Finally, KLP Kapitalforvaltning AS raised its stake in shares of Pinterest by 103.4% in the 4th quarter. KLP Kapitalforvaltning AS now owns 838,500 shares of the company’s stock valued at $21,709,000 after acquiring an additional 426,300 shares during the period. 88.81% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Pinterest

Here are the key news stories impacting Pinterest this week:

  • Positive Sentiment: Q2 results beat expectations: Pinterest reported adjusted earnings of $0.43 per share versus the $0.36 consensus estimate, while revenue reached $1.18 billion compared with expectations of $1.15 billion. Revenue grew 18.2% year over year. Pinterest’s Q2 Earnings Top Estimates on AI-Led Ad Growth
  • Positive Sentiment: AI is supporting monetization: AI-powered advertising, stronger monetization and record user growth helped drive the quarterly outperformance and contributed to a more constructive outlook. Spotify and Pinterest Delivered the Growth. Investors Wanted More
  • Positive Sentiment: Analyst sentiment was broadly supportive: UBS initiated or reiterated a Buy rating, Cantor Fitzgerald assigned an Overweight rating, and Evercore raised its price target to $29. RBC also increased its target to $25. Guggenheim, Morgan Stanley, Robert W. Baird and Rosenblatt analysts expressed expectations for further appreciation. Evercore Boosts Pinterest Price Target
  • Neutral Sentiment: Valuation remains a debate: Some analysts view the post-earnings weakness as a buying opportunity, citing Pinterest’s high-intent users, high-teens revenue growth and disciplined expense management. Pinterest: Despite North American User Choppiness, Worth The Cheap Multiples
  • Negative Sentiment: Key risks limited the reaction: Investors were disappointed by at least one user-related metric, particularly choppiness in North American users. Monetization initiatives are also creating margin pressure, while Wedbush maintained a Neutral or Hold rating. PINS Q2 Deep Dive

Pinterest Company Profile

(Get Free Report)

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.

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